The 14-time Olympic gold medalist has also collected trophies Wednesday night for record-breaking performance, championship performance, and male Olympian while sharing the best moment award as part of the victorious 400-meter freestyle swimming relay at the Beijing Games.

Phelps won a record eight gold medals in Beijing, breaking Mark Spitz's 36-year-old record of seven golds in a single games.

Olympic all-around gymnastics champion Nastia Liukin has won female athlete of the year.